IT Update
Acquirers to inform target firms,bourses at three trigger points In the first major change in the takeover code following the Bajoria raid on Bombay Dyeing, the SEBI constituted PN Bhagwati panel on takeovers on Monday decided that acquirers will have to report their acquisition of shares in a company to both the target company and the stock exchanges. World Bank to hike loan to $3 billion by 2001 World Bank President John D Wolfensohn has expressed his willingness to increase loan commitment to India to $3 billion by the end of 2001 and further to $4 billion per annum. FIs set to resist move to bring them under code Financial institutions, which are meeting the Sebi panel on takeovers on Tuesday to discuss the issue of bringing FIs under the takeover code, appear to be in no mood to agree to being brought under the code's ambit. Sensex sheds 121 points Sharp fall in Nasdaq indices on Friday and unwinding of the positions by operators resulted in free-fall at the BSE with the Sensex losing more than 100 points on Monday. Mafatlals to exit from Nocil Petro The Mafatlals are planning a complete exit from Nocil's proposed petrochemicals joint venture, Nocil Petrochemicals, which will be formed after the demerger of the company. Match-fixing scam costs Muthiah Ficci top job The cricket match-fixing scandal has cost Spic group chairman AC Muthiah the post of president of Ficci, at least for an year if not more.
Acquirers to inform target firms,bourses at three trigger points
World Bank to hike loan to $3 billion by 2001
FIs set to resist move to bring them under code
Sensex sheds 121 points
Mafatlals to exit from Nocil Petro
Match-fixing scam costs Muthiah Ficci top job